Kogas, Energy Capital Vietnam Sign Vietnam LNG, Power MoU

Korea Gas Corporation (Kogas) and Energy Capital Vietnam (ECV) have entered into a memorandum of understanding that provides the framework for the development of a privately-funded LNG regasification terminal, storage, gas supply system and 3,200 MW gas-fired power project near Mui Ke Ga, Binh Thuan province, Vietnam, EVC said July 23.

“The MoU contemplates Kogas and ECV working together to optimise their efforts to meet the significant LNG demand growth forecasted for Vietnam. The scope of the MoU covers matters relating to cooperation and collaboration for the project,” EVC said.

EVC CEO David Lewis said both companies will look to leverage each other's strengths to bring low-cost LNG to Vietnam and help address critical energy security needs.

Meanwhile, ECV has awarded KBR a contract to provide feasibility services and refine cost estimates for the project including detailed analysis of optimal design combinations. Completion of the study is expected to be achieved in Q3 2019, EVC said.

EVC is a Vietnam-focused project development and asset management company with offices in Dallas, Texas and Ho Chi Minh City.